BATANGAS Land Company Inc. , a government-owned and controlled corporation and Chevron Philippines Inc. have inked a Memorandum of Understanding to renew the energy firm’s lease of assets for another 25 years, according to the Department of Trade and Industry .
Pascual emphasized this collaboration between CPI and BLCI is “essential” in fulfilling one of the country’s “most important objectives,” which is pursuing energy security. Energy Secretary Raphael P.M. Lotilla said Chevron’s presence over the many years in the Philippines represents “a seal of good housekeeping.”
The lease covers the following areas: San Pascual, Batangas; Lapu-Lapu, Cebu; San Fernando , La Union; and, Sasa, Davao City. “Today is a momentous occasion that marks a continuous and longtime partnership. I’m glad we are signing this MOU because despite our differing interests [as], you, in the private sector and we, in the government, have come together to strengthen our ties further and align our goals in the rebuilding of our nation’s economy,” said BLC President Lilia L. Arce.IT was last Monday when the DTI announced that United States Ambassador to the Philippines MaryKay L.